Skyfii posts net loss of $4.8M following UK acquisition

Sydney-based data analytics and marketing services provider Skyfii (ASX:SKF) closed the 2017 financial year with $3.2 million revenue, up 37 per cent compared to 2016.

The company reported an operating net loss after tax (NPAT) of $4.8 million and operating loss before interest, tax, depreciation and amortisation (EBITDA) of $4.9 million.

In the previous reporting year, the company also reported losses with NPAT $5.4 million and EBITDA $5.4 million.

The company expects to receive an R&D tax incentive rebate of $820,000 in FY18 relating to research and development expenditures undertaken in FY17.

Skyfii CEO Wayne Arthur told shareholders that Skyfii is now recognised across a growing number of industry verticals for our capacity to use data to provide insights and drive specific business outcomes for our clients.

“We successfully grew our international footprint, executing agreements with notable global brands, such as Woolworths of South Africa, Wellington International Airport in New Zealand and a premier global food chain in the UK amongst others, in line with our stated FY17 objectives,” Arthur said.

Skyfii’s data analytics and marketing platform IO has seen subscription services up 82 per cent. The platform has analysed 840 million visitor journeys and 10 million registered users, according to the company.

The company’s business overseas growth is led largely by the “carefully selected” channel partners, with a total of ten across the US and the UK being signed during the past financial year.

The sales pipeline has grown during FY17, up to $91 million from $53 million in FY16 which now includes a growing number of verticals, according to Skyfii.

Copyright 2019 IDG Communications. ABN 14 001 592 650. All rights reserved. Reproduction in whole or in part in any form or medium without express written permission of IDG Communications is prohibited.